What are the top 3 industries in Switzerland?
The country has one of the most advanced economies in the world with its GDP being 678.9 billion. The main industries in Switzerland are banking and finance. However, the country's economy is also driven by agriculture and industry. In fact, Switzerland is famous in the world for its Swiss chocolates and watches.
The two main branches of the industrial sector – chemicals and pharmaceuticals and mechanical/electrical engineering and metals – have a strong export focus. The watchmaking industry is Switzerland's third largest exporter and is renowned worldwide for its high quality, tradition and innovation.
Statistics | |
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Average gross salary | $75,250, annual (2017) |
Main industries | Machinery chemicals watches textiles precision instruments tourism banking insurance pharmaceuticals |
Ease-of-doing-business rank | 36th (very easy, 2020) |
External |
Approximately 74% of Swiss GDP is generated by the services sector and 25% by industry. The agricultural sector contributes less than 1%. The EU is Switzerland's main trading partner. Around 66% of Swiss imports are from the EU, while 43% of Swiss exports are to EU countries.
When we think of Switzerland, our mind goes to skiing resorts, lakes, chocolate, and cheese. The Alp mountains are the perfect setting for swiss people to grow their livestock of cows and produce cheese and chocolate. They also make great skiing tracks and winter destinations.
Switzerland's most important exports are products from the chemical and pharmaceutical industries (52%), machinery (13%), watches (8%) and precision instruments (7%). In 2020 Switzerland imported goods to the value of CHF 182 billion, around two thirds of which came from EU countries and over 27% from Germany alone.
- Global Consumer Electronics Manufacturing. Employment number for 2022: 17,518,424. ...
- Global Commercial Real Estate. ...
- Global Fast Food Restaurants. ...
- Global HR & Recruitment Services. ...
- Global Apparel Manufacturing. ...
- Global Hotels & Resorts. ...
- Global Coal Mining. ...
- Global Tourism.
The country is politically stable with a very transparent legal system making it an attractive location to foreign investors. Starting and running a business in Switzerland requires that companies understand the country's laws, rules, and regulations.
Exports The top exports of Switzerland are Gold ($68.5B), Packaged Medicaments ($46.3B), Vaccines, blood, antisera, toxins and cultures ($30.2B), Base Metal Watches ($11.5B), and Nitrogen Heterocyclic Compounds ($11.4B), exporting mostly to United States ($62B), Germany ($49.2B), China ($17.3B), France ($16.3B), and ...
Zurich has established itself as an important centre for ICT, life sciences, cleantech as well as creative industries and tourism.
What does Switzerland manufacture?
Switzerland's major exports are machinery and equipment, chemical-pharmaceutical products, watches, and textiles and apparel.
They produce cereals such as wheat and barley, root crops such as sugar beets and potatoes, and fruits such as apples and grapes. About 124 million liters (33 million gallons) of wine, at subsidized prices, are produced annually.
Switzerland's insurance, tourism and banking industries guide the service sector. Swiss banks form the significant part of the service sector including the most important Swiss banks Credit Suisse and UBS.